Consumer sentiment fell to a record low in April, dropping lower than it did during the worst of the Great Recession and when the country was locked down during the pandemic.

Consumer sentiment fell to 47.6, down from 53.3 in March, according to a preliminary reading of the University of Michigan Consumer Sentiment Index for April. Consumer sentiment is now down 10.7% from a month ago and nearly 9% from a year ago.

Recommended Stories

Inflation rose to 3.8% in April, highest since 2023, as Iran war raised energy prices

Producer price inflation rose to 5.4% in August, adding to pressure on Fed